By Rebecca Melvin and Cristal Cody
Concord, N.H., Feb. 9 – Development Bank of Japan priced an upsized $700 million of 1.75% sustainability notes due Feb. 18, 2025 on Tuesday to yield SOFR mid-swaps plus 30 basis points, or Treasuries plus 26.8 bps, according to a market source.
The deal was initially talked at $500 million in size. Initial price talk was in the SOFR mid-swaps plus 30 bps area.
Barclays, Mizuho Securities, Morgan Stanley and Nomura Securities are bookrunners for the Rule 144A and Regulation S offering.
The development bank is based in Tokyo.
| Issuer: | Development Bank of Japan
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| Amount: | $700 million, upsized from $500 million
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| Issue: | Sustainability notes
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| Maturity: | Feb. 18, 2025
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| Bookrunners: | Barclays, Mizuho Securities, Morgan Stanley and Nomura Securities
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| Coupon: | 1.75%
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| Spread: | SOFR mid-swaps plus 30 bps or Treasuries plus 26.8 bps
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| Pricing date: | Feb. 8
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| Settlement date: | Feb. 18
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| Distribution: | Rule 144A and Regulation S
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| Talk: | SOFR mid-swaps plus 30 bps area
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